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BRIEF-Corecivic enters into new management contract with the Commonwealth of Kentucky
November 16, 2017 / 11:03 PM / a month ago

BRIEF-Corecivic enters into new management contract with the Commonwealth of Kentucky

Nov 16 (Reuters) - Corecivic Inc

* Corecivic enters into new management contract with the Commonwealth of Kentucky at the Lee Adjustment Center

* ‍Entered contract with Commonwealth of Kentucky department of corrections to house medium, close-security offenders at co’s lee adjustment center​

* ‍Expect to incur operating losses at Lee Adjustment Center of $0.03 to $0.04 per share for staffing and other start-up related expenses

* ‍Most of the operating losses of $0.03 to $0.04 per share at Lee Adjustment Center will be incurred during Q1 of 2018

* ‍Upon reaching normalized occupancy new contract is expected to generate approximately $15.0 million to $17.0 million of annual revenue​ Source text for Eikon: Further company coverage:

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